Two new legal developments, one from FinCEN and federal banking regulators and the other from the New York State legislature amending their Uniform Commercial Code (UCC), underscore that when it comes to crypto, stablecoins and blockchain finance, trust is being reinserted at the points where assets become bankable.

New York’s UCC Revision Act, which went into effect June 3, creates a clearer commercial-law framework for digital assets by introducing controllable electronic records and treating “control” as the digital equivalent of possession for certain digital…